First-Time Homebuyer in Calgary? Step-by-Step Guide for 2025

Stepping Into the Calgary Real Estate Market for the First Time

So, you’re ready to buy your first home in Calgary? First off—congratulations! 🎉 That’s no small step. Whether you’re tired of renting, looking to build equity, or just excited about finally having a place that’s yours (yes, you can finally paint the walls whatever color you want), this is an exciting chapter.

But here’s the truth: buying your first home can also feel like standing at the base of a mountain without a map. Mortgages, inspections, negotiations… it can all sound like a foreign language at first. That’s exactly why I’ve put together this simple step-by-step guide—to give you clarity, confidence, and a clear game plan.

Step 1: Know Your Numbers

Before you start scrolling through listings on Realtor.ca, you need to know what you can actually afford. In Calgary’s market, the last thing you want is to fall in love with a house that’s way outside your budget.

Here’s what to look at:

• Down Payment: In Canada, the minimum down payment is 5% for homes under $500,000. If the home is between $500,000–$999,999, it’s 5% on the first $500,000 and 10% on the rest. Over $1M? You’ll need 20%.

• Closing Costs: Think legal fees, inspections, land transfer taxes (Alberta bonus—no provincial land transfer tax! 🎉), and moving costs. Plan for 1.5–4% of the purchase price.

• Monthly Budget: Don’t forget utilities, property taxes, and insurance. Owning is amazing, but it comes with extra costs renters don’t deal with.

👉 Pro Tip: I always recommend meeting with a mortgage broker early. They’ll help you figure out your affordability sweet spot and give you a pre-approval letter—gold when you’re ready to make an offer. I can always connect you with one who will match your needs.

Step 2: Get Pre-Approved for a Mortgage

Think of a mortgage pre-approval like your backstage pass, it shows sellers you’re serious and ready to go. It also locks in an interest rate (usually for 90–120 days), so if rates jump while you’re shopping, you’re protected.

A client of mine once said, “I’ll start looking first, then worry about pre-approval later.” Spoiler alert: she found her dream condo in Mission, but without pre-approval, she couldn’t act fast enough—and someone else scooped it up. Lesson learned!

Step 3: Define Your Must-Haves vs. Nice-to-Haves

Here’s where it gets fun—you get to dream a little. But before you start touring homes, make a clear list.

Ask yourself:

• Do I need two bedrooms, or will one and a den do the trick?

• Do I want a downtown lifestyle, or more space in the suburbs?

• Is a garage non-negotiable, or can I live with street parking?

👉 Remember: Calgary is a city of neighborhoods, each with its own personality. Beltline buzz feels very different from the family-friendly vibe in Tuscany or Mahogany. When I work with first-time buyers, I always say: You’re not just buying a house—you’re buying a lifestyle.

Step 4: Work With the Right Realtor®

Yes, you can scroll listings on your own, but here’s the thing: the market moves fast, and there’s a ton of behind-the-scenes strategy that makes or breaks a deal. From knowing which neighborhoods are up-and-coming, to spotting red flags in a listing, having a Realtor® (hi, that’s me 🙋‍♂️) by your side saves you stress and often money.

My job? To guide you through the process, protect your interests, translate all the jargon, and make sure you never feel lost or pressured.

Step 5: Start the Home Search

Here’s where the excitement kicks in—you’re finally touring homes!

Pro tips to keep in mind:

• Take notes and photos during showings (they start to blur together after the 3rd or 4th).

• Don’t get distracted by staging. Look past the pretty furniture—focus on layout, condition, and light.

• Ask about commute times, school zones, and amenities nearby.

I once worked with a couple who were set on a downtown condo… until we toured a home in Lake Bonavista. The walking trails, lake access, and family vibe won them over. Sometimes your dream spot isn’t where you first expect.

Step 6: Make an Offer

Found “the one”? Now it’s time to strategize.

Here’s what goes into an offer in Calgary:

• Price: Based on market value, recent sales, and condition.

• Deposit: Typically 3-5% of the purchase price, due within 24 hours of offer acceptance. (Unless stated otherwise in the contract)

• Conditions: Financing approval, home inspection, condo document review (if applicable).

• Closing Date: The day you officially get the keys!

Negotiating isn’t just about price—it’s about terms. Sometimes a seller cares more about a quick possession date than a higher offer. That’s where experience pays off.

Step 7: Home Inspection & Conditions

Think of this step as your “peace of mind” stage. A home inspection helps you understand what’s under the hood—roof condition, furnace age, plumbing, electrical. These can always help you negotiate with the seller if any issues do arrise. 

And if you’re buying a condo? Reviewing the condo docs (financials, reserve fund, bylaws) is CRUCIAL. You don’t want surprises like a $10,000 special assessment popping up six months later.

Step 8: Closing Day 🎉

Fast forward a few weeks—your financing’s confirmed, the inspection checked out, and it’s closing day. You sign the paperwork, grab the keys, and just like that… you’re a Calgary homeowner!

I’ve seen first-time buyers walk into their home on possession day with tears in their eyes. That feeling  is exactly  why I love what I do.

FAQs: First-Time Homebuyers in Calgary

Q: How much should I save for a down payment?
A: Minimum 5% if the home is under $500,000. But if you can save more, you’ll reduce your monthly mortgage payments.

Q: Is Calgary a good market for first-time buyers?
A: Absolutely. Compared to cities like Toronto or Vancouver, Calgary still offers affordable entry points—and strong long-term growth.

Q: Should I buy a condo or house for my first property?
A: Depends on lifestyle. Condos = low maintenance, often central. Houses = more space, more responsibility. I help buyers weigh the pros and cons based on their goals.

Wrapping It Up

Buying your first home in Calgary doesn’t have to be scary. With the right plan—and the right people on your side—you’ll go from nervous to confident in no time. Remember: it’s not just about bricks and mortar, it’s about finding the lifestyle that makes you feel at home.

If you’re thinking about buying your first home in Calgary and want a Realtor® who makes the process simple, transparent, and actually enjoyable—I’d love to chat. Let’s grab a coffee (my treat ☕) and map out your first step. Click here to send me an inquiry!